SOURCE: AmeraMex

November 16, 2011 16:21 ET

AmeraMex International Reports Third Quarter Revenue Increased 45 Percent

Company Reports Third Consecutive Profitable Quarter

CHICO, CA--(Marketwire - Nov 16, 2011) - AmeraMex International, Inc. (PINKSHEETS: AMMX), a provider of heavy equipment to infrastructure, shipping, construction and farming companies, today reported financial results for its third quarter, ended September 30, 2011.

Highlights for the quarter:

  • The company's first SEC compliant audit is substantially complete, with year-end adjustments to be recorded.
  • The company is interviewing CFO candidates and expects to announce a new CFO before the end of the year.
  • A conference call to update shareholders and members of the financial community is scheduled for Wednesday, November 30. A separate news release containing dial-in information will be disseminated shortly.
  • The company has announced its third consecutive profitable quarter.

Third Quarter, Ended September 30, 2011
The company reported revenue of approximately $1.2 million, a 45 percent increase, when compared to revenue of $826,489 in the third quarter of 2010.

The gross profit for the quarter was $637,980 versus gross profit of $304,705 for the comparable quarter in 2010. Gross profit margins, as a percentage of revenue, were 55 percent, a significant increase, when compared to gross profit margins of 37 percent for the comparable quarter in 2010. Improved margins are due in part to product mix and increased international sales.

The company reported net income for the quarter of $51,593, a considerable improvement, when compared to a net loss of ($110,655) for the third quarter of 2010.

Nine-Month Period Ended September 30, 2011
Revenue for the nine-month period was approximately $3.5 million, a 35 percent increase, when compared to revenue of $2.6 for the comparable 2010 period. The company reported net income of $174,816 for the period, versus a net loss of ($294,949) for the comparable period in 2010.

Tables follow:

AmeraMex International, Inc.
Condensed Statement of Operations
(Unaudited)
For the Three-Months
Ended Sept. 30, 2011
For the Three-Months
Ended Sept. 30, 2010
Revenue $ 1,161,665 $ 826,489
Cost of Sales 523,685 521,784
Gross Profit 637,980 304,705
Expenses:
Sales, General and Administrative 522,082 342,692
Other 53,600 23,408
Total Expenses 575,682 366,100
Net Income (Loss) from Operations 62,298 (61,395 )
Other Expenses and Income
Interest Expense 407 1,909
Depreciation 10,298 51,020
Income Tax Provision - -
Other (3,669 )
Total Other Income & Expenses 49,260
Net Income (Loss) $ 51,593 $ (110,655 )
Basic Earnings (Loss) Per Share $ 0.0001 $ (0.0003 )
Weighted Average Shares Outstanding 383,517,215 383,517,215
Diluted Earnings (Loss) Per Share 0.0001 (0.0003 )
AmeraMex International, Inc.
Unaudited Condensed Consolidated Balance Sheets
For the Nine-Month
Period Ended
September 30, 2011
ASSETS
CURRENT ASSETS:
Cash and Cash Equivalents $ 20,354
Accounts Receivable 329,210
Note Receivable 455,445
Inventories 1,150,191
Other Current Assets 156,696
Total Current Assets 2,111,896
Fixed Assets 437,256
TOTAL ASSETS $ 2,549,152
LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES
Accounts Payable $ 1,659,790
Taxes Payable 254,689
Other Current Payables 55,574
Total Current Liabilities 1,970,053
Total Long Term Liabilities 1,046,735
Total Liabilities 3,016,78
STOCKHOLDERS' EQUITY
Capital Stock 204,025
Paid-In Capital 1,981,603
Retained Earnings (Loss) (2,825,002 )
Retained Earnings Current Year 171,736
Total Stockholders' Equity (467,637 )
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 2,549,152
Number of common shares issued and outstanding: 383,517,215

About AmeraMex International
AmeraMex International sells, leases and rents heavy equipment to companies within four industries: construction (light and infrastructure), shipping logistics, mining and commercial farming. AmeraMex International's largest product line is specialized container handling equipment that enables stevedoring companies to quickly and efficiently load and offload container and general freight ships dockside. AmeraMex, with customers in the Americas, Africa, Asia and Eastern Europe, has over 30 years of experience in heavy equipment sales and service and inventories top-of-the-line equipment from manufacturers such as Taylor Machine Works Inc. and Terex Heavy Equipment. For more information visit the AmeraMex website, www.AMMX.net.

Safe Harbor Statement
Except for the historical e historical information contained herein, the matters discussed are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. These statements involve risks and uncertainties, which are specified in Ecology's filings with the Securities and Exchange Commission. These risks and uncertainties could cause actual results to differ materially from any forward-looking statements made herein

Contact Information

  • Media and Financial Contact:
    Marty Tullio
    McCloud Communications LLC
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